Planning & Organizing
A widely used financial planning too
What is a budget
The number of products that will be bought at a given time at a given price.
what is demand?
A set of activities that gets products from producers to consumers.
What is marketing?
Buying goods or services made in a foreign country
What is importing?
A loan that must be repaid within a year.
What is a short-term loan?
An employee should receive instructions from one manager.
What is the unity of command
type of economy with a central planning authority that determines what, how, and for whom goods and services are produced
What is a command economic system?
The blend of all decisions that are related to the four elements of marketing.
What is marketing mix
the foreign country where a company has its branches- Subsidiaries
What is host country?
Financing obtained from an investor or investment group that lends large sums of money to promising new or expanding small companies.
What is venture capital?
The outlines used to ensure that the quality of work is acceptable.
What are standards
Steel that is used to produce tools and machinery is classified as that type of good.
What is a capital good?
Groups of customers with very similar needs to whom the company plans to sell its product.
What is a target market?
a firm that own or controls production or service facilities in more than one country
What is a multinational firm?
The authorization to borrow up to a maximum amount for a specified period of time.
What is a line of credit?
A broad, lasting, and often inspirational view of a company's reason for existing
What is vision
the market value of all final goods and services which are produced within the geographical boundaries of a given country in a given time frame
what is GDP?
Inexpensive items that consumers purchase regularly without a great deal of thought.
What is convenience goods?
taxes on foreign goods to protect domestic industries and to earn revenue.
What is tariffs?
A strategy for funding a business idea with small amounts of money from many people.
What is crowdfunding?
Fixed Costs / (Sales Price per Unit - Variable Costs per Unit)
What is breakeven point
A pattern of irregular but repeated expansion and contraction of the GDP that lasts about 5 years
What is a business cycle?
The set of activities required to transport and store products and make them available to customers.
What is distribution?
limits the quantity or value of units permitted to enter a country
What is quota?
A long-term debt instrument sold by the business to investors.
What is bond?
Provides broad goals and directions for the business
What is strategic planning
An area of study that analyzes the decisions made by countries and governments
What is macroeconomics?
Stage of the product life cycle when a brand-new product enters the market
What is introduction stage?
the practice of selling goods in a foreign market at a price that is below cost or below what it charges in its home country
What is dumping?
the number of shares a corporation is authorized to issue as stated in its charter.
What is authorized stock?
The difference between the actual amount and the budgeted amounts
What is variance?
A measure of the average change in prices of consumer goods and services typically purchased by people living in urban areas.
What is CPI?
Products designed for use by another business.
What is industrial goods?
A process in which the government bars companies from doing business with particular countries
What is embargo?
Stock owned by shareholders
What is outstanding stock?
the obligation to accept responsibility for the outcomes of assigned task
What is accountability?
Situation in which a country’s output exceeds its population growth.
What is economic growth?
Focused on widespread distribution and promotion.
What is a sales-oriented firm?
The value of one country's currency expressed in the currency of another country
What is exchange rate?
Stock that was issued and then reacquired by the corporation
What is treasury stock?
Un organizational chart that organizes employees into temporary work teams to complete specific projects
What is matrix organizational chart?
The value of a country’s money in relation to the value of other countries
What is the foreign exchange rate?
Products that many customers will not shop for because they do not have a strong need for the product.
What is the maturity stage?
A culture where people communicate directly and explicitly
What is a low context culture?
Profits that are not taken out of the business but instead are saved for use by the business
What is retained earnings?
the number of employees that any one manager supervisors directly
What is span of control?
measures the total value of all goods and services produced by the resources of a country in a given period.
What is Gross National Product?
Chart used to identify alternate market segments with unique needs based on major choice criteria.
What is a positioning chart?
The ability of an individual or group to carry out a particular economic activity more efficiently (cheaper, better, and fast) than another individual or group
What is absolute advantage?
Firm that specializes in lending money to businesses based on the business’s accounts receivable
What is a factor?